Calyx Chemicals and Pharmaceuticals Ltd, a manufacturer of active pharmaceutical ingredients and intermediates in India; with an increasing focus on CRAMS to transnational pharmaceutical companies; has filed the Draft Red Herring Prospectus (“DRHP”) with Securities and Exchange Board of India (“SEBI”) and the stock exchanges for an Initial Public Offering (”IPO”) of 68,30,000 equity shares of face value of Rs.10 each (“Equity Shares”). The Issue also includes an employee reservation portion of 50,000 equity shares.
The IPO, will be made through the book building process wherein not more than 50 per cent of the issue shall be allocated on a proportionate basis to qualified institutional buyers, not less than 15 per cent of the issue shall be available for allocation to non-institutional bidders and not less than 35 per cent of the issue shall be available for allocation to retail individual bidders.
Capital Markets Private Limited, YES Bank Limited and Punjab National Bank are the Book Running Lead Managers to the Issue.
The company has, over the years, moved from a single product (anti TB - Pyrazinamide) to a multi-product portfolio comprising anti-TB, macrolides, anti-malarial anti-depressants, anti-hypertensives. The company’s standalone net sales for the year 2009-10 reached at Rs.321.80 crore and it earned a net profit of Rs.21.89 crore.